Investment Team
ESM Entertainment LLC is assembling a $7m entertainment project located in Omaha, Nebraska and is seeking individuals interested in learning more about the opportunity to join a select pool of supporters in the development of The V.
Opportunity
The bowling business is going through a generational renaissance. While league play has decreased each year for the last decade, casual play (aka open play) has increased. To take advantage of this trend, the bowling business in many parts of the country has transformed during the last decade from a single attraction entertainment model to a multi-attraction model with open play bowling as the core attraction, but less than 1/3 of the revenue stream. Bowling gets people in the door and then they spend their money on bowling, food, beverage and other amusements. Entertainment centers recently constructed across the country, while slightly different from location to location, have one theme in common. They offer reasonably priced, multiple entertainment alternatives in one location. These facilities are attractively designed and generally consist of some sort of casual dining, an open play bowling center, amusement center and other types of entertainment. The combined promotion of a casual dining experience with bowling and indoor amusement options along with creative uses of the latest audio / visual technology is an attractive entertainment proposition compared to limited entertainment formats available in the marketplace. These facilities cater to corporations and families during the day and early evening but transform into an adult centered entertainment venue in the late evening.
This entertainment concept has been validated by many successful operations across the country, most notably, Main Event Entertainment (www.maineventusa.net). Main Event is located in Texas with eight facilities in Dallas, Austin, Houston and Lubbock.
A strong opportunity exists to develop a multi-attraction bowling based entertainment concept in Omaha because the market consists exclusively of old style, single attraction facilities. These facilities are generally outdated and cater primarily to the league bowling business during peak periods and only offer casual bowling opportunities at off-peak periods. The V has been designed to take advantage of this opportunity.
The Entertainment Offering
The V is a 45,000 square foot multi-attraction entertainment concept consisting of a variety of amusement attractions and a casual dining restaurant targeting families, young adults and corporations. Amusement attractions offered by The V will include a 16 lane open play bowling center, 4 lane upscale private bowling lounge, 120 player station game zone, rock climbing, mini-bowling, laser tag arena, multi-player game attractions, billiards, darts and shuffleboard. The V will also have dedicated private meeting space for corporations and groups and party rooms available to host family parties.
Project Status
- Investment grade feasibility study prepared by Amusement Entertainment Management LLC
- Preliminary floor plan planning completed by Dynamic Designs
- Business plan completed
- Significant due diligence completed including 23 site visits – Colorado, Florida, Georgia, Illinois, Indiana, Michigan, Oregon, Texas, Washington
- Preliminary capital budget - $6.7 million = $3.1m equipment / $2.5m tenant improvements / $.7m startup / $.4m pre-development